Deere & Company (NYSE:DE) Trading Down 0.7%

Deere & Company (NYSE:DE) traded down 0.7% on Monday . The company traded as low as $392.18 and last traded at $397.60. 362,943 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,481,221 shares. The stock had previously closed at $400.32.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Morgan Stanley assumed coverage on Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective on the stock. Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Wells Fargo & Company reduced their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $433.28.

Deere & Company Trading Down 0.6 %

The company has a 50 day moving average of $386.42 and a two-hundred day moving average of $383.39. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The stock has a market capitalization of $110.59 billion, a PE ratio of 11.57, a P/E/G ratio of 1.50 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.55 EPS. Sell-side analysts predict that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.48%. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Hedge Funds Weigh In On Deere & Company

Several institutional investors and hedge funds have recently modified their holdings of DE. True Wealth Design LLC raised its holdings in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the period. Briaud Financial Planning Inc acquired a new position in Deere & Company in the 3rd quarter worth about $25,000. Rakuten Securities Inc. acquired a new position in Deere & Company in the 4th quarter worth about $28,000. Naples Money Management LLC acquired a new position in Deere & Company in the 4th quarter worth about $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.